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PANKESH AMARSHI RACHHADIYA Versus PUNJAB NATIONAL BANK AND 2

2016 (2) TMI 756 - GUJARAT HIGH COURT

Writ jurisdiction to entertain the present petition - proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Held that:- There is a clinching reason for not entertaining the petition and relegating the petitioner before the Debts Recovery Tribunal. It is an admitted position that principal borrower has already approached the Debts Recovery Tribunal by filing the aforesaid S.A. No.122 of 2015 under Section 17 of the Act. The sa .....

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view, present petition is not entertained and dismissed, leaving the petitioner at liberty to approach the Debts Recovery Tribunal. It goes without saying that this Court has not gone into the merits of the case of the petitioner. - SPECIAL CIVIL APPLICATION NO. 15384 of 2015 - Dated:- 9-2-2016 - MR. N.V.ANJARIA, J. FOR THE PETITIONER : MR DIPEN C SHAH, ADVOCATE ORAL ORDER Heard learned advocate Mr.Dipen C. Shah for the petitioner. 2. By filing the present petition under Article 226, the petitio .....

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No.2 herein that respondent No.2 had been facing proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herienafter referred to as 'the SERFAESI Act') initiated by respondent-Bank. A notice under Section 13(2) was conveyed on 08th December, 2014. It is the case of the petitioner that property bearing Plot No.3/B, Block No.92/2, Revenue Survey No.107 at Village Motin Roli, Taluka Mangrol, District Surat was purchased by .....

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Securitisation Appeal No.122 of 2015 before the Debts Recovery Tribunal at Ahmedabad. The petitioner had produced Memorandum of Appeal as well as copy of notice dated 06th August, 2015 issued by the Tribunal. 4. Notice for possession was pasted at the premises of the petitioner on 22nd July, 2015 on the basis of the order of the Collector under Section 14 of the Act. The submissions against impugned action, as highlighted and elaborated by learned advocate for the petitioner, are inter alia tha .....

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inclined to exercise the writ jurisdiction to entertain the present petition. Section 17 of the SERFAESI Act confers right to appeal to any person, including borrower who may be aggrieved by any of the measures referred to under Section 13(4) of the Act taken by the secured creditor. Such aggrieved person is entitled to make an application before the Debts Recovery Tribunal having jurisdiction in the matter where the property is situated. It could not be gainsaid that right to appeal under Secti .....

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of Section 17 of the Act. 6.1 In Kanaiyalal Lalchand Sachdev Vs State of Maharashtra [(2011) 2 SCC 782], the Supreme Court has stated that the measures under Section 14 constitutes the action taken after the stage of Section 13(4) and a remedy of appeal under Section 17 would be available. In that case, refusal by the High Court to entertain the writ petition was held to be fully justified. 7. Reliance placed on the decision of the Supreme Court in Harshad Govardhan Sondagar Vs International As .....

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, there is a clinching reason for not entertaining the petition and relegating the petitioner before the Debts Recovery Tribunal. It is an admitted position that principal borrower has already approached the Debts Recovery Tribunal by filing the aforesaid S.A. No.122 of 2015 under Section 17 of the Act. The same is pending and the Tribunal is seized with the said proceedings. Interim directions have been operating in that matter. It relates to the controversy and the subject matter. It would be .....

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